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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29789. (Read 26714959 times)

legendary
Activity: 2338
Merit: 1035
Cheap coins everywhere, Christmas came early Smiley
There's no such thing as a cheap coin. It is the current market price. Bitcoins have no intrinsic value, only a current market price.

if you think the current price is low compared to what you think the price could/should be, remember that the 'low' price is 'low' because the market implicitly disagrees with you.

What it will be worth in the future is conjecture.

u must be very new here

just a couple days ago there was a flash crash down to 530
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
full member
Activity: 378
Merit: 100
Obviously you are wrong, because according to you, 95% of November rally price is from China and it hasn't dropped to 5% of ATH yet, or is that what you are  predicting? If I lived in China, I'd be a hodler. Moreso than now even. I can do international wire xfers. The Chinese can't. Bitcoin can be spent almost anywhere. The renmimbi can only be spent in China.

I will happily accept your RMB.

LOL you're like that really smart kid in the front of the class who finds fault with the oversimplification of the idea I give to the slower learners.

And you're right, our student doesn't really understand the definition of "zero-sum".

Mining is a break-even proposition, which means half the mining makes a profit and the other half loses money. Bitcoins are produced, so there is a positive sum.
'Student'... LOL, I wish I was a student again.... but that was a very, very long time ago. Happy days.
legendary
Activity: 1456
Merit: 1001
This is the land of wolves now & you're not a wolf
This slow crash is very annoying, when i want to short, i want to see profits fast. I am not really comfortable to sell for the midterm in this situation that could end up being the bottom, or close to the bottom.

No, I don't dare shorting this market, save for 1-2 BTC for a few hours, just for the fun of it. I mainly bring fresh fiat to the exchange, and buy gradually in on the way down.

BTW, I find Money Flow Index and True Range to be quite useful these past days.

This is what I do.   I am ready to throw some more money at it, but I am trying to evaluate on what price I want to do so.   I missed the bottom the last few times because they happened in the middle of the night when I was sleeping...
legendary
Activity: 2674
Merit: 2373
1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
Note that the article was written before the Chinese stomped on bitcoin.

But even if nothing had changed, there is one little snag in that article.  If a Chinese citizen uses Yuan to buy bitcoins in China and then sells them for dollars in the US, there is no export of Yuan to the US actually.  Instead the guy gives his Yuan to other Chinese traders, and the US traders give him a bunch of dollars. 

So why would the Chinese government object to a Chinese national receiving a gift from americans?


When the guy disburses his supply of Yuan to the other traders, that increases supply and devalues it (a little). Governments would prefer they have the monopoly on devaluing currencies.
full member
Activity: 378
Merit: 100
Cheap coins everywhere, Christmas came early Smiley
There's no such thing as a cheap coin. It is the current market price. Bitcoins have no intrinsic value, only a current market price.

if you think the current price is low compared to what you think the price could/should be, remember that the 'low' price is 'low' because the market implicitly disagrees with you.

What it will be worth in the future is conjecture.
legendary
Activity: 1260
Merit: 1002
One has to give Gox some credit actually. At least this time they are Goxxing everyone before the rally rather than during it.

ahahah for sure bro Cheesy Cheesy Cheesy 100% agree
Gox is Bitcoin's saviour! They'll be back even stronger!! But not before squeezing the s**t out weak hands with more feat doubt and uncertainty..

if you guys think Gox isnt f****g loaded in BTC anyway, your are fooling yourselves...
legendary
Activity: 1106
Merit: 1007
Hide your women
Obviously you are wrong, because according to you, 95% of November rally price is from China and it hasn't dropped to 5% of ATH yet, or is that what you are  predicting? If I lived in China, I'd be a hodler. Moreso than now even. I can do international wire xfers. The Chinese can't. Bitcoin can be spent almost anywhere. The renmimbi can only be spent in China.

I will happily accept your RMB.

LOL you're like that really smart kid in the front of the class who finds fault with the oversimplification of the idea I give to the slower learners.

And you're right, our student doesn't really understand the definition of "zero-sum".

Mining is a break-even proposition, which means half the mining makes a profit and the other half loses money. Bitcoins are produced, so there is a positive sum.
legendary
Activity: 2674
Merit: 2373
1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
One has to give Gox some credit actually. At least this time they are Goxxing everyone before the rally rather than during it.
legendary
Activity: 1680
Merit: 1014
This slow crash is very annoying, when i want to short, i want to see profits fast. I am not really comfortable to sell for the midterm in this situation that could end up being the bottom, or close to the bottom.

No, I don't dare shorting this market, save for 1-2 BTC for a few hours, just for the fun of it. I mainly bring fresh fiat to the exchange, and buy gradually in on the way down.

BTW, I find Money Flow Index and True Range to be quite useful these past days.
hero member
Activity: 605
Merit: 500
Cheap coins everywhere, Christmas came early Smiley
hero member
Activity: 812
Merit: 1000
This slow crash is very annoying, when i want to short, i want to see profits fast. I am not really comfortable to sell for the midterm in this situation that could end up being the bottom, or close to the bottom.
legendary
Activity: 1680
Merit: 1014
Just had a sick deja vu, almost like a matrix glitch, last time it happened the price went up

The trend is still pointing down, though, it hasn't even flattened out yet...
legendary
Activity: 1106
Merit: 1007
Hide your women
So if there are fewer bitcoins in China, but the same amount of demand to use bitcoins for the same purpose that the bitcoins that left China were used for, then the price goes up.

Yes, the price of bitcoins will go up (if it is not offset by speculators dumping).

But we were discussing "capital evasion", not price; and I showed that using bitcoins as the Forbes article described does not amount to capital evasion; rather the opposite.  That is why the Chinese government has not tried to stop it.

With the current internal restrictions, prices, and mining activity, I believe that bitcoin is siphoning real wealth from the rest of the world to China.  But not much - much less than a million dollars per day, I woudl say.


First off, your assumption that the Chinese government understands all the implications of Bitcoin is questionable. 2nd, government policies do not always have their intended effects. Often the opposite is true. Thirdly, capital flows in both directions so the hypothetical scenario could just as easily be someone trying to get wealth INTO China.

hero member
Activity: 812
Merit: 1000
Just had a sick deja vu, almost like a matrix glitch, last time it happened the price went up
legendary
Activity: 1106
Merit: 1007
Hide your women
  But since bitcoins have no intrinsic value, the material wealth of China would not change. There would be still the same amount of food and cars in the Chinese market, and the same amount of Yuan in circulation inside China.

Intrinsic value is meaningless in terms of price. Air has intrinsic value. We need it to breath, yet it has no price. Dollars have no intrinsic value, but we use them because they are the most liquid commodity for trade. The reason why dollars are the most liquid commodity for trade is irrelevant. If there was another reason, that reason would suffice. If there was no other reason, something else would be money.

Like gold, bitcoin is recognizable, portable, divisible fungible and scarce. it can be used as a medium of exchange. These properties make it valuable to some people. The fact that it is valuable to some people make it valuable to other people. Intrinsic value is not a useful concept if you want to understand money. It is a harmful distraction.
legendary
Activity: 2912
Merit: 6403
Blackjack.fun
With this "withdrawals in the air" situation, it so easy for someone to inside trade. Scoop cheap coins, then announce that it works again. 99% sure someone will capitalize on this.

No way , would somebody running a collapsing exchanger , full of troubles , thinking of such scheme? Wink
hero member
Activity: 910
Merit: 1003
So if there are fewer bitcoins in China, but the same amount of demand to use bitcoins for the same purpose that the bitcoins that left China were used for, then the price goes up.

Yes, the price of bitcoins will go up (if it is not offset by speculators dumping).

But we were discussing "capital evasion", not price; and I showed that using bitcoins as the Forbes article described does not amount to capital evasion; rather the opposite.  That is why the Chinese government has not tried to stop it.

With the current internal restrictions, prices, and mining activity, I believe that bitcoin is siphoning real wealth from the rest of the world to China.  But not much - much less than a million dollars per day, I woudl say.
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
What a silly observation. If more people mined, the difficulty would be forced up to compensate. Zero sum game.

True, but that's not what "zero-sum" means.
hero member
Activity: 812
Merit: 1000
With this "withdrawals in the air" situation, it so easy for someone to inside trade. Scoop cheap coins, then announce that it works again. 99% sure someone will capitalize on this.
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